Morningstar (NASDAQ:MORN – Get Free Report) announced its quarterly earnings results on Wednesday. The business services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.04 by $0.44, FiscalAI reports. The business had revenue of $672.10 million during the quarter, compared to analysts’ expectations of $664.75 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.
Morningstar Trading Down 0.4%
MORN traded down $0.92 during mid-day trading on Wednesday, hitting $214.86. The stock had a trading volume of 235,357 shares, compared to its average volume of 457,656. The stock’s fifty day simple moving average is $205.42 and its 200-day simple moving average is $186.12. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 20.35 and a beta of 1.02. Morningstar has a 1-year low of $141.49 and a 1-year high of $226.29. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on MORN. BMO Capital Markets increased their target price on Morningstar from $230.00 to $237.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Weiss Ratings raised shares of Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. UBS Group cut their price objective on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.67.
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Insider Activity
In related news, Chairman Joseph Mansueto sold 7,906 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total value of $1,662,315.56. Following the completion of the sale, the chairman owned 7,960,570 shares in the company, valued at $1,673,789,448.20. This represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 86,500 shares of company stock valued at $17,824,451. 38.80% of the stock is owned by insiders.
About Morningstar
Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.
Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.
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